want to stipulate now for the rest of the conversation, nor bhaskar will support that system. second alternative to which we it is the improvements that have been made within capitalism improvements that it in a socialistic direction but without going hog into public ownership with means of production. the reason most socialist embrace those systems they are the same principles. you.ank [applause] >> you know the first thing i want to say, michelle is, i when you were talking about working conditions, that the "new york times" requires its people to work at their desk and wear diapers. i thought that only happened in world.rd i realized many of the people at times" are that old. we'll let that pass. >> obviously if everybody in this country had working conditions of the "new york be up capitalism won't for debate. yes.ll, the revolution right. on some ofo pick up the things he said that capitalism is an economic system. want to stress, actually that capitalism is a subset of a larger liberal political philosophy. people inthat reason jacobin and people in this audience agree o

bhaskar sunkara is the founder editor of publisher of jacobin. [applause] we're going to begin by trying to define our terms. the first question, which is going to start with reason, what is capitalism? >> thank you very much, michelle. thank you very much to jacobin for organizing this debate. that kind of sounds like garbage. i will try to get little more nitty-gritty also in my answer. what that means in practice is that property is largely privately owned. it means that profit provides incentive for production, it means employment is at will. the government role in the economy should be limited and forces of supply and demand in a free market are the most efficient means of providing the for the general well being of human kind. i'm mostly going to obsess about that last point. my colleague nick gillespie will be hitting on other topics. i will keep coming back to this idea. question whether or not capitalism let people flourish whether it provides the best life that we can provide for them. couple of points here. between 1990 and 2010 we hav

bhaskar sunkara is the founder editor of publisher of jacobin. >> [applause] >> we're going to begin by trying to define our terms. the first question, which is going to start with reason, what is capitalism? >> thank you very much, michelle. thank you very much to jacobin for organizing this debate. let's get it out the way. we thought this would be a delightful time so we hope you enjoy yourself as much as we do. capitalism is a system that doesn't have any answers. it does not seek to impose answers to the question which -- what should we produce, how should we produce it, who gets the stuff we produce. that kind of sounds like garbage. i will try to t little more nitty-gritty also in my answer. what that means in practice is that propertis lge privately owned. it means that profit provides incentive for production, it means employment is at will. the government role in the economy should be limited and forces of supply and demand in a free market are the most efficient means of providing the for the general well being of human kind. i'm mostly going to obsess about that last poin